Shares of Lumentum surged 15 percent on Wednesday, among the largest of a raft of gains for companies seen as key iPhone suppliers after Apple Inc’s (AAPL.O) results on Tuesday that quelled concerns over a slackening in demand for high-end smartphones.

Lumentum’s results were also further evidence that such worries were overdone.

Revenue from Lumentum’s optical communications business, which accounts for more than 80 percent of the company’s total revenue, rose 14 percent in the three months ended March 31, while sales from its lasers business rose 32 percent.

The company also forecast current-quarter revenue and earnings per share above analysts’ expectations.

However, Lumentum expects demand for 3D sensing lasers to be tepid in the June quarter due to seasonality, Chief Executive Officer Alan Lowe said on a conference call with analysts.

“Once production kicks in for the entire iPhone line and some (Android smartphones) in late June, second half of the year should be a huge 3D period,” Needham & Co analyst Alex Henderson said.